The local authorities in Bucharest’s District 5 plan to develop the biggest urban development project in Romania, which includes building 40,000 residential units, a maternity, a multipurpose hall, an Olympic swimming pool, a museum, and administrative center and schools.

The project will be developed on a 110-hectare land plot the municipality owns on Antiaeriana Street. The District 5 City Hall signed a partnership with the World Bank, which will provide technical support for this mega-project.

“This is the first project of this king developed in Romania in the last 30 years and we couldn’t have hoped for a better partner for it that the World Bank,” said District 5 mayor Daniel Florea.

The World Bank will also assist the District 5 authorities in finding solutions for the urban regeneration of the Ferentari neighbourhood, one of the most ill-famed areas in Bucharest. The cooperation will also cover the sustainable development of District 5’s Southeastern area by starting the so-called “Laser Valley” project, aimed at developing a technology hub in the area, which is close to the ELI-NP laser facility at Magurele.

“District 5 will become the main economic growth pole in Bucharest, in the next period,” Florea added.

District 5 has been for many years the poorest of Bucharest’s six districts.

editor@romania-insider.com